Global Wearable AI market
Added: (Tue Mar 05 2019)
Pressbox (Press Release) -
Global Wearable AI market was valued at US$ 10.23 Bn in 2017 and is expected to reach US$ 101.43 Bn by 2026, at a CAGR of 33.21% during a forecast period.
Global Wearable AI market
The objective of the report is to present a comprehensive assessment of the market and contains thoughtful insights, facts, historical data, industry-validated market data and projections with a suitable set of assumptions and methodology. The report also helps in understanding wearable AI market dynamics, structure by identifying and analyzing the market segments by component, application, service, cooling technique, and region and, project the global market size. Further, the report also focuses on the competitive analysis of key players by product, price, financial position, product portfolio, growth strategies, and regional presence. The report also provides PEST analysis, PORTERs analysis, and SWOT analysis to address the question of shareholders to prioritizing the efforts and investment in the near future to the emerging segment in the wearable AI market.
AI-enabled technology has the ability to increase the capabilities of today's wearable devices. Connected devices and AI-enabled technology are expected to upsurge life expectancy and improve life quality. Wearable play an important role in this outlook as the simplest, most convenient tools to collect health data, monitor and interact with users on the go. Heres how medical and care wearable use AI analytics to accelerate their performance. Today, several wearables depend on popular smart assistants, such as Alexa or Siri in Apple Watch.
The wearable AI market is expected to witness substantial growth owing to increasing demand for Smartwatches with the high quality and larger display. The growing awareness among the customers about the benefits related with the OLED technology with a better angle and excellent contrast is one of the main factors exciting growth of OLED display and this, in turn, boosted the growth of AI enable wearable device market. The further upsurge in demand for AI assistants, growing of operations in the healthcare industry, the presence of IoT and integration of wireless technology and development projections of wearable component technology are propelling the progress of the market.
However, quickly growing consumer electronics sector with a smaller life cycle hampers the growth of the wearable AI market. Designing technologically innovative product along with smooth elements, data privacy compliances and regulations and charging, power and battery life optimization are the major challenges to the growth of the wearable AI market. If wearable AI is used as a service and wearable for pets and animals is expected to produce several opportunities for wearable AI market.
Sensors are used in various manufacturing industries. Different sensors are available in the market for different purposes. Sensor plays a very important role in communication thus sensor is a main connecting link between communicating data associated to several parameters such as temperature, pressure, motion, and magnetic field and are expected to be between the important components for wearable. The demand for the sensor is increasing owing to the growing advancement toward smaller, smarter, and cheaper sensors and enhanced compatibility of sensors with other components are pouring the demand for sensors in a wearable.
The consumer electronics is expected to grow at high CAGR during the forecast period owing to the large market of consumer electronics across the world. Also, consumer wearable electronics contains a number of wearable devices that are used in diverse applications like fitness and sports, entertainment and multimedia, and others. These fitness observing devices are attracting health-conscious customers. Similarly, the AR/VR has a large adoption in entertainment and multimedia applications are driving the growth of consumer electronics in the global wearable AI market.
The market of North America is expected to dominate during the forecast period owing to the growing R&D at both academic and industry levels, which is broadening the application areas of wearable AI in consumer electronics, enterprise and industrial applications, and healthcare. North America is the largest contributor to the wearable AI market among the other regions. Also, technical innovations and developments are leading to the introduction of new products in this region are propelling the growth of the wearable AI market.
Scope of the Global Wearable AI Market
Global Wearable AI Market by Product
Smart Watch
Ear Wear
Eye Wear
Other Body Wear
Global Wearable AI Market by Component
Processor
Connectivity IC
Sensors
Display
Others
Global Wearable AI Market by Operation
On-Device AI
Cloud-Based AI-Based AI
Global Wearable AI Market by Application
Consumer Electronics
Healthcare
Enterprise
Industrial
Others
Global Wearable AI Market by Geography
North America
Europe
Asia-Pacific
Middle East & Africa
South America
Key Players operating in the Global Wearable AI Market
Apple
Samsung
Google
Microsoft
Sony
Garmin
Fitbit
Huawei
Amazon
IBM
Oracle
Bragi
Motive
Shft
Lifebeam
Focusmotion
Moov
Atlas
Biobeats
Physiq
Touchkin